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Bobby Julien Of Kolter Homes Acquires Development Site In Loxahatchee For $66.71M

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SOLD
$66,710,000

Florida

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Development Site
Sold 03/07/2025
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Property Image
SOLD

Bobby Julien Of Kolter Homes Acquires Development Site In Loxahatchee For $66.71M

Development Site
Sold 03/07/2025
the dealplayerscompscontact
Contact now

Summary

Asset Type:Development Site
Transaction Type:Sale

The asset involved in this transaction is a development site located at Southern Boulevard/U.S. 441 in Loxahatchee. The sale was finalized for $66,710,000, encompassing a total area of 462.6 acres that is intended for a mixed-use community development. This site will feature 480 homes, 54 townhouses, and 47,000 square feet allocated for commercial use.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $66,710,000
  • Buyer: Bobby Julien - Kolter Homes
  • Seller: John C. Fleming - Fleming Properties
  • Seller: Robin Fleming - Trium Investments
  • Market: Loxahatchee

Key individuals in this transaction include Bobby Julien, representing Kolter Homes as the buyer, and John C. Fleming and Robin Fleming, who are the sellers representing Fleming Properties and Trium Investments respectively. This acquisition adds a significant development project to Kolter Homes' portfolio aimed at enhancing the local community.

Players

Bobby Julien
Bobby Julien
8 deals$542.3M volume
BUYER

Details

SOLD
IMAGE: Bobby Julien & Robin Fleming DATE: 03/07/2025 ADDRESS: Southern Boulevard/U.S. 441 MARKET: Loxahatchee ASSET TYPE: Development Site ~ ACRES: 462.6 BUYER: Bobby Julien - Kolter Homes (@KolterHomes) SELLER: John C. Fleming - Fleming Properties; Robin Fleming - Trium Investments SALE PRICE: $66,710,000 NOTE: Kolter Homes bought 445.9 acres near Loxahatchee Groves for $66.71 million to develop Lakehaven, a mixed-use community with 480 homes, 54 townhouses, and 47,000 square feet of commercial space. Sellers included Fleming Properties & Trium Investments.

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$3,557,866.67

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$237,006.54
Cash-on-Cash Return-1.27%
Monthly Debt Service$316,239.43
Annual Debt Service$3,794,873.21